It is based upon an assumption made that the banks are too far into it. It would be suicide for them to wind it up and I would strongly suspect that if wind up was on the cards, it would have been leaked out in some format.
I believe the decision has been made, or at least if not totally made, just about done.
A decision to wind BNB up(or part decision)of this magnitude would be spreading like wildfire through leaks and cracks but that has not happened.
My humble opinion only!
Cheers...
BNB
babcock & brown limited
negative net asset position, page-26
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